The Hungarian energy company MVM has announced the introduction of an installment payment option for electricity bills, as confirmed by Gábor Czepek, Chairman of the Board of MVM.

This initiative aims to assist consumers who have transitioned from a flat-rate billing system to a time-based consumption model implemented earlier this year, resulting in unexpectedly high charges for many.

The rollout of new smart meters by MVM has led to significant increases in electricity bills for some customers.

These new meters provide readings based on actual consumption rather than estimated figures, leading a number of customers, particularly those with an annual electricity consumption exceeding 5,000 kilowatt-hours, to experience steep increases in their bills.

The changes took effect in January and primarily affected users relying on electric heating, who were unprepared for the additional costs they incurred.

Consumers were first notified of the changes in February, leaving little time to adjust their budgets for the heightened charges.

Czepek emphasized that the option for flat-rate payments would remain available for those customers who have received smart meters.

Approximately 230,000 customers will continue to have the choice to pay a fixed monthly amount for their electricity, notwithstanding the new billing system.

Furthermore, Czepek stated that for those who received their consumption bills in January or February, MVM would automatically provide a payment deferral until April 15, 2025. Should this deferral prove inadequate, customers have the option to request installment payments for up to six months, after which they can revert to the flat-rate billing option starting in the autumn.